The Global Mushroom Market was valued at USD 46.8 Bn in 2020 and is expected to reach USD 93.3 Bn by 2027, with a growing CAGR of 10.4% during the forecast period.
Mushrooms also referred to as toadstool are edible fungi that are typically produced above ground on the soil. They are rich in potassium, selenium, riboflavin, vitamin D, and other ingredients which have several health benefits associated with them. Mushrooms have a very limited shelf life, with some mushrooms lasting less than a day, while some might survive for a week. However, with the expansion of the mushroom industry across the globe, the commercial distribution and production of mushrooms have significantly improved.
The mushroom market is accounted to boost at a significant pace in the forecast period. The market is majorly experiencing traction owing to the high culinary and nutritive properties provided by the mushrooms. Owing to these properties, mushrooms have been used as food for ages and have experienced high demand across the globe. Mushrooms consist of a moderate amount of fiber and several vitamins and minerals, including potassium, copper, magnesium, zinc among others. They are low in fat & calories and are cholesterol-free. They consist of antioxidants like glutathione, selenium, or GSH, which protects cells from damage and decreases chances of inflammation and chronic disease. Owing to these nutritive properties offered by edible mushrooms, they have gained popularity among consumers, which is thereby driving the growth in the mushroom market.
Moreover, shifting consumer preferences towards vegan food along with an increase in the demand for meat substitutes are also prominent factors contributing to propelling the mushroom market growth. For instance, shiitake and button mushrooms are rich sources of protein making them an attractive meat substitute among consumers. In addition, the rapidly growing commercial consumption of mushrooms in supermarkets, restaurants, and hotels, and cafeterias is another major factor influencing the market demand. Further, the rising popularity of processed food consumption is also expected to boost the growth in the mushroom industry.
By Distribution Channel
The unique insights provided by this report also include the following:
Based on product, the button type held the largest share in the Mushroom industry in the year 2020 due to the nutritional and health benefits offered by the button mushrooms
Based on the product, the mushroom market is segmented as a button, oyster, shiitake, truffles, matsutake, and others. Among these, button type held the largest share in the mushroom industry in the year 2020. This high share is majorly due to the nutritional and health benefits offered by the button mushrooms. Button mushrooms have a high amount of retene that has an antagonistic effect on some types of tumors. In addition, these mushrooms are available at a lower cost when compared to other varieties of mushrooms. Owing to these factors, button mushroom experiences competitive advantage over other types of mushrooms. Moreover, increasing R&D activities on white button mushrooms to know their potential in preventing cancer, is expected to increase the demand for button mushrooms in the forecast period.
Based on form, processed form is projected to be the fastest-growing segment in the mushroom market owing to the limited life span of the mushrooms
Based on form, the mushroom industry is fragmented into processed and fresh forms. Among these, processed form is projected to be the fastest-growing segment in the mushroom market. This growing demand is owing to the limited life span of the mushrooms. Additional processing, such as freezing, drying, and canning is crucial in extending the shelf life of the mushrooms. Therefore, key manufacturing companies are now focused on introducing packaged products to tap the markets of convenient and processed food products. Further, the rising usage of extracts and powder form by the cosmetics and food manufacturers is also expected to elevate the segment demand in the mushroom industry. The growing demand for products like mushroom-based nuggets, biscuits, preserves, papad, ready-to-make mushroom curry, and noodles in retort pouches has also contributed to increasing processed mushrooms demand in recent years.
Based on region, Asia-Pacific accounted for the dominant share in the mushroom market owing to China, which is the leading producer and supplier for mushrooms in the region
Based on region, the mushroom industry is divided into Asia-Pacific, North America, Latin America, the Middle East and Africa, and Europe. The Asia-Pacific region accounted for the dominant share in the market and is expected to show similar trends in the future. This dominant share is due to some of the largest markets in the region including China, Malaysia, India, Japan, and Australia market. Among these, China is the leading producer and supplier of mushrooms in the region. The country is widely famous for the use of various species of mushrooms in traditional medicine systems, including Traditional and Ayurveda Chinese Medicines for the treatment of several diseases. Additionally, high nutritional values, and low calories, along with immunity-boosting properties provided by mushrooms, are projected to drive the product demand in the region.
The report also provides an in-depth analysis of the market dynamics such as drivers, restraints opportunities, and challenges
Note: Challenges along with in-depth market dynamics analysis is mentioned in the report.
The Covid-19 pandemic outbreak has severely influenced the mushroom market on a global level. Mushrooms have a short shelf life that ranges from one to three days owing to their high-water content. Therefore, post-harvest transportation and storage are important factors of successful cultivation. The outbreak has resulted in the imposition of lockdowns across several major economies to curb the spread of disease. These lockdowns have led to travel restrictions across the globe and have majorly affected the distribution channel structure of the fresh mushroom market. In addition, manufacturing plants have slowed down production, owing to the unavailability of personnel and low market demand. This has led to a tremendous loss for mushroom farms owners.
The report also provides an in-depth analysis of key trends in the mushroom market
The report also provides an in-depth analysis of recent news developments and investments in the market
Company Profiles and Competitive Intelligence
The key players operating in the mushroom industry are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.